Reserve Bank of New Zealand holds cash rate at 5.5 per cent

The Reserve Bank of New Zealand has left the country’s cash rate on hold. For the sixth consecutive month, the RBNZ has decided to keep the cash rate on hold at 5.5 per cent. The RBNZ’s cash rate decision was widely expected. The consumer price index for New Zealand sits at 4.6 per cent, which is outside the central bank’s target band of one to three per cent. This comes ahead of the budget expected to be handed down by the New Zealand government in May.